Today, we talk about deb payoff and I will share with you the things I waste my money on. Why? Because this is part of the process if paying off debt.
Stump the Sauce
- From Alan – How do you protect your aquaponics plumbing through deep freezes?
Spring is Coming!
- Setting out the seedling schedule (some start this weekend)
- Seeking 6 blueberry bushes — anyone?
- Early weed controls need to happen now
- Scooping poop
- Anti chicken defense fencing going up
- Outdoor hydroponics systems setup (and planning for the worm casting juice experiment)
- Also: Pigs or no pigs?
Main topic of the Show: Wasting Money While Paying Off Debt
I have been meaning to share with yall my journey to pay off bad debt – as in revolving debt – which started 4-5 years ago and has been a pretty bumpy road. But the end of my journey is very close at hand and over the years, my needs and wants have changed dramatically.
How I ran into trouble:
- A practice of putting things on low interest cards and paying them off (real estate and home improvements)
- Spending to fill an emotional void or cheer myself up
- A lifestyle of travel for work and not keeping my financial house in order — upwards of $10k a year would go on my credit cards and no expense reports would be submitted
- An instant gratification mindset
- Am ever-increasing salary
Biggest two: the mental and emotional issues, an expensive paperwork aversion
- Dave Ramsey – emergency fund: with alterations
- Fits and starts and why
- Sell all the things, unless they do not sell then give them away (getting the house in order)
- Beans and rice, rice and beans did not work: Mental and emotional health and its impact on the process, scarcity mindset, if you feel poor you are poor
- What did work: commitment to paying it off with a schedule and decision to all all “extra” money to the project | much larger emergency fund | bringing down monthly costs | building in a non-poverty mindset with things that don’t count as debt payoff
Behold the list
- House cleaning of $100/month
- 3 alcoholic beverages at home per week
- A really nice home espresso maker
- Imported chocolate
- Non-budget food: grassfed meats, etc (How I control cost on this)
- Biweekly counseling appointments
- Amazon Prime (soon to go away)
- Travel to workshops and events
- Home improvement
- Seeds and plants
- Food Preservation Purchases (The $800 cryovac an how I made that decision)
What is not on the list (very often)
- Buying coffee, dinner, fast food out
- Concerts, etc
- Expensive travel, cruises, etc
- Corporate wardrobes
- Keeping up with the Joneses devices, cars, clothing, hair, makeup, shopping items, decorations, furniture, etc
- Charitable contributions beyond my means
- Crypto currency investment schemes
- Casino time
- Nights at the bar
You can do this!
Make it a great week!
GUYS! Don’t forget about the cookbook, Cook With What You Have by Nicole Sauce and Mama Sauce.
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